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pearl district

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July 31,2008

Office space rental market softens

by shooter
The Oregonian reports that the commercial real estate market in Portland is softening. I wonder what this development means for the off again/on again One Waterfront Place project. I previously posted about One Waterfront Place when the developers presented their latest proposal to the Pearl District Neighborhood Association in early June. At the time co-developer Jim Winkler said, "as soon as we get our anchor tenant who leases 80,000 square feet we'll begin".

If the commercial real estate market is softening that doesn't bode well for Winkler to find his anchor tenant. If this development doesn't happen the PDC should pull the plug and use the $9 million committed to the project for something that will be built. I think the office building would be a good addition and would bring more foot traffic to the North Pearl. However, if the project can't get off the ground it should be killed once and for all.

posted at 08:00 AM 0 comments
categories: land use+planning
tags: architecture, Development, urban renewal
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Pacific Northwest College of Art
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